Matthew_Gibson Posted February 26, 2009 Report Share Posted February 26, 2009 I NEED £1200 by easter for my Bothers car I said I would buy, I should have had the money, but as I needed to do things to the car I have about £100 saved so far!!!Just been thinking of getting a loan of £2000 to get the car, and a bit extra to spend on makin it my own. Just wondered whos the best company to go with. Will I be able to get one, I work in a garage, earing £80 a week, also work in halfords 2 days a week, brings home about £300 a month. I could pay out somthing like £150 a month.Done a quick one More Details 16.90 %APR Typical Loan amount: £2,000 Total remayments £2,371 Payment period:24 Payment monthly: £99Dont seem too bad, I was expecting more like paying back £2500. Also my mum works for a loan comapny (provident) would she be able to give me a loan? as im family? She know I will and can pay it. but its the fact id rather not her know I have debt.Any help would be good! Quote Link to comment Share on other sites More sharing options...
TheCircus Posted February 26, 2009 Report Share Posted February 26, 2009 Unless you are 100% sure you can pay it back quickly and securely, which you probably aren't, getting a loan is a mad retarded idea (bolded and italic'd for posterity and FORCE). Do you live at home? What is your exact income/outgoing expenses each month? Quote Link to comment Share on other sites More sharing options...
Hendrix Posted February 26, 2009 Report Share Posted February 26, 2009 Get a student account, if you can, and use the overdraft on that to pay for it. Only use that as most student accounts have 0% interest for 3 years or something. But, unless you're a student, in full time education at uni, I doubt you'd be able to get it.Still an idea though. Quote Link to comment Share on other sites More sharing options...
Rob/Mitch Posted February 26, 2009 Report Share Posted February 26, 2009 (edited) I NEED £1200 by easter for my Bothers car I said I would buy, I should have had the money, but as I needed to do things to the car I have about £100 saved so far!!!Just been thinking of getting a loan of £2000 to get the car, and a bit extra to spend on makin it my own. Just wondered whos the best company to go with. Will I be able to get one, I work in a garage, earing £80 a week, also work in halfords 2 days a week, brings home about £300 a month. I could pay out somthing like £150 a month.Done a quick one More Details 16.90 %APR Typical Loan amount: £2,000 Total remayments £2,371 Payment period:24 Payment monthly: £99Dont seem too bad, I was expecting more like paying back £2500. Also my mum works for a loan comapny (provident) would she be able to give me a loan? as im family? She know I will and can pay it. but its the fact id rather not her know I have debt.Any help would be good!.You're bank is your best as they know what you can afford, they know all your figures, and will probably be the only people that will dish you out a loan in the current climate.If they wont give you one I doubt any other company would take a punt on you. Edited February 26, 2009 by Rob/Mitch Quote Link to comment Share on other sites More sharing options...
Matthew_Gibson Posted February 26, 2009 Author Report Share Posted February 26, 2009 Bring home about £500 a month. give or take few quid. I have bein in debt as it is. but its the only way I can get the money to him fast! I live with mum. her company only do loans up to £1000. I work in a garage on day release from college. SO dont think i'll qualify for a student loan Quote Link to comment Share on other sites More sharing options...
JonMack Posted February 26, 2009 Report Share Posted February 26, 2009 Can't you just explain to your brother you can't afford it. If you plan on paying back half your salary as loan repayments per month, how are you going to afford insurance, and living costs? Quote Link to comment Share on other sites More sharing options...
TheCircus Posted February 26, 2009 Report Share Posted February 26, 2009 If you live at home you don't need a loan to buy things you need to WORK. Why pay extra cash for no other reason than impatience. Are you 100% sure you will have your jobs in 24 months time? Thought not.If you are earning £500 a month and living at home and you need to buy a car you can save £450 a month for 3 months and then buy a car. Why are you locked in to buying your brothers car? WHAT ARE YOU DOING. Quote Link to comment Share on other sites More sharing options...
Matthew_Gibson Posted February 26, 2009 Author Report Share Posted February 26, 2009 Dont pay lodge, Insurance is paid for, and my brother need the extra cash SOON as he doesnt have an car at uni. He was dropped the price by £800 because I'm buying it!! also a loan is the last thing i would need, but maybe the only way!And to be honest, I dont spend alot on me. so tobe honest it wont be a big loss. I know I can pay it like. Just my mum wont be happy...........If you live at home you don't need a loan to buy things you need to WORK. Why pay extra cash for no other reason than impatience. Are you 100% sure you will have your jobs in 24 months time? Thought not.If you are earning £500 a month and living at home and you need to buy a car you can save £450 a month for 3 months and then buy a car. Why are you locked in to buying your brothers car? WHAT ARE YOU DOING.I work 6 days a week. and your saying I need to do more? I'd like ONE day of rest! I cant do anymore shifts at halfords, as finish and starts time clash. I work ALL day saturdays. My brother has GIVE me his car for about 4 months as it is. as I didnt have one. SO i kinda need to give him something. I had some money save, then the gear box blew up. so had to sort that. I want to get his car as i know how much work he has put into it, I like it, also he wants to have a project when he finishes uni. so he will be buying it back off me and turing it into a track car for the hell of it....Don't mean to sound harsh, Quote Link to comment Share on other sites More sharing options...
Fishy Posted February 26, 2009 Report Share Posted February 26, 2009 You say he dropped the price by £800? Why not sell the car for £2000, you've made a healthy £800 profit, your brothers got the money he wants back, and you can put that £800 and maybe save a bit towards a new car? Quote Link to comment Share on other sites More sharing options...
Sam Ward Posted February 26, 2009 Report Share Posted February 26, 2009 My brother has GIVE me his car for about 4 months as it is. as I didnt have one. SO i kinda need to give him something. I had some money save, then the gear box blew up. so had to sort that.surely he must know about that you had to fork out for the gearbox so he should be understanding that you had to spend money that you wouldve given to him on the car,and could you not ask your mum for the money, she knows your good for it and she'll get it back quickly, you wont have to pay interest and she understands that your brother needs it and that you had to fork out for a gearbox?? Quote Link to comment Share on other sites More sharing options...
Jaffacakes Posted February 28, 2009 Report Share Posted February 28, 2009 I was considering getting a loan, then realised getting a 0% APR credit card is the best way, then keep switching the balance to other cards when the 0% runs out.No-one would give me a good card, so I didnt bother... Last summer I worked something rediculous like 12 splits in a row, thats like 90 hours a week, and still managed a few pints after work most days. It f**ks with your head though, I fell to sleep in the store/changing room more than once. I wont be doing it againJust dont borrow the money, if theres even a possibility you cant pay it back. Quote Link to comment Share on other sites More sharing options...
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